Today CNN reported that Iraq is making windfall profits because of the high price of oil.
"Iraq is raking in more money from oil exports than it is spending, amassing a projected four-year budget surplus of up to $80 billion" U.S. auditors reported, according to CNN.
If Iraq is in fact making these huge profits, why aren't these profits being used to fund their own reconstruction program? And weren't we told by the Bush Administration that the war would be paid for by Iraq with it's own oil profits? Admittedly, that was said when the administration said the war was going to cost $80 Billion.
"We should not be paying for Iraqi projects while Iraqi oil revenues continue to pile up in the bank, including outrageous profits from $4-a-gallon gas prices in the U.S.," said Sen. Carl Levin, the chairman of the Senate Armed Services Committee.